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What are the Forecasted Market Size and Growth Rates for the Gas Insulated Transformer Market?
The gas insulated transformer market size has shown significant growth in recent years, blossoming from $2.69 billion in 2024 to $2.84 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The historic growth can be ascribed to grid modernization, increased urbanization, infrastructural aging, renewable energy integration, and electrical loss reduction.
The gas insulated transformer market is expected to continue along the trajectory of strong growth in the forthcoming years, projected to increase to $3.7 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. This anticipated growth during the forecast period can be attributed to factors such as emerging technologies in compact substations, electrification of transportation, improved resilience and grid reliability, increased energy storage integration, and decentralized energy generation.
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What Drives the Growth of the Gas Insulated Transformer Market?
An escalation in governmental initiatives is predicted to be a significant propellent of growth for the gas-insulated transformer market moving forward. As global energy demands rise, governments worldwide are investing in various energy plant campaigns. For example, in January 2022, the Indian government constructed a new gas-insulated substation in Maharashtra, boasting 300MW of capacity. The substation, backed by three individual power sources and routes, could eventually expand to a 700MW capacity. Therefore, this increase in initiatives and investments in gas and power plant construction is a driving force in the gas-insulated transformer market.
How is the Gas Insulated Transformer Market Segmented?
1) By Type: Instrument Transformers, Power Transformers, Other Types
2) By Voltage: Medium Voltage (Up to 72.5 kV), High Voltage (72.5 kV to 220 kV), Extra High Voltage (Above 220 kV)
3) By Installation: Indoor, Outdoor
4) By End User: Industrial, Commercial, Other End Users
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Who are the Major Players in the Gas Insulated Transformer Market?
Significant companies operating in the gas insulated transformer market include Takaoka Toko Co. Ltd., Arteche Group, Bharat Heavy Electricals Limited, Chint Group Co. Ltd., General Electric Company, Hyosung Corporation, KharkovEnergoPribor Ltd., Meidensha Corporation, Mitsubishi Electric Corporation, Nissin Electric Co. Ltd., Shihlin Electric & Engineering Corp., Siemens AG, Tatung Company, Toshiba Corporation, Yangzhou Power Electric Co. Ltd., ABB Ltd., BTW Inc., Chem Group Inc., Chint Group Corp., Eaton Corporation plc, Elsewedy Electric Co. S.A.E., Fuji Electric Co. Ltd., Hitachi Ltd., Hyundai Heavy Industries Co. Ltd., Hyosung Heavy Industries Corp., Larsen & Toubro Limited, Mistras Group Inc., Ormazabal Velatia S.L., Powell Industries Inc., Schneider Electric SE, Trench Group, UGL Pty Limited, Alstom SA, CG Power and Industrial Solutions Limited, Efacec Power Solutions, GE Grid Solutionsv
What Trends are Emerging in the Gas Insulated Transformer Market?
Technological advancements are emerging as the leading trend in the gas-insulated transformer market. Companies in this domain are investing in technological innovation to bolster their market position. In August 2024, Hitachi Energy, a technology company based in Switzerland, announced the launch of the world’s highest-voltage SF6-free switchgear, a 420 kV gas-insulated switchgear (GIS) technology. As part of its commitment to sustainability and reducing greenhouse gas emissions, Hitachi’s innovation was designed to replace sulfur hexafluoride (SF6), a potent greenhouse gas, with a more eco-efficient alternative, significantly reducing the carbon footprint associated with high-voltage electrical systems.
What are the Regional Highlights of the Gas Insulated Transformer Market?
In 2024, North America held the largest market share in the gas-insulated transformer market. However, the Asia-Pacific region is expected to outperform as the fastest-growing region during the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Gas Insulated Transformer Market Report 2025 Offer?
Gas-insulated transformers are electric devices utilized for safety against fire in crucial buildings and inundated substations close to residential areas, factories, and chemical plants. A gas-insulated substation (GIS) is a high-voltage substation where the principal conducting structures are enclosed in a sealed environment, with sulfur hexafluoride (SF6) serving as the insulation medium. The GIS support frames are either bolted or welded to embedded metal plates or beams, or secured in place with chemical drill anchors. The Gas Insulated Transformer Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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